Top Consumer Stocks
MCD -1.24%DIS -0.84%
Consumer stocks were posting small gains in recent trade, with shares of consumer staples companies in the S&P 500 rising more than 0.2% while shares of consumer discretionary firms in the S&P 500 were riding a 0.1% advance this afternoon.
In company news, Ascena Retail Group ( ASNA ) soared more than 21% during Tuesday trading, topping out at $2.63 a share, after the apparel retailer reported a surprise fiscal Q4 profit and above-consensus sales.
Excluding one-time items, the company earned $0.05 per share during the three months ended July 29, down from $0.08 per share during the same quarter last year but easily dispatching the Capital IQ consensus expecting a $0.03 per share net loss. Net sales declined % from year-ago levels to $1.66 billion but still exceeded the $1.57 billion Street view.
Sales at stores open more than 12 months slipped 4% during Q4 compared with same-store sales in the year-ago period, also beating Wall Street expectations looking for an 8% decline.
Looking forward, Ascena is projecting Q1 net income between $0.08 to $0.13 per share, trailing the $0.21 per share consensus, while sales for the current quarter ending next month are seen in a range of $1.58 billion to $1.62 billion, topping the analyst mean by at least $20 million. The company also is expecting same-store sales to fall between 4% to 5% compared with analyst forecasts modelling a 1.8% decline.
In other sector news,
(+) IZEA, (+24.7%) Reports receiving seven-figure contract renewal during Q3 to provide custom content and influencer marketing services for an unnamed financial services company. Also signs contracts total more than $250,000 with a media company, a multinational food conglomerate and a consumer products manufacturer.
(-) SHAK, (-4.2%) Cut to Neutral from Outperform at Wedbush Morgan.
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